Addressing the impact of financial stress in the workplace

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We have launched a free online Financial Wellbeing Survey for employers to measure and address their employees’ wellbeing. The survey results will highlight any areas of concern and help to shape a financial wellbeing strategy.

Financial stress can have a large impact on staff productivity in the workplace and is costing employers billions a year in lost productivity, turnover, and recruitment fees, yet many organisations do not recognise the link. According to PwC’s 9th annual Employee Financial Wellness survey (2020) more than half (58%) of employees admit they’re stressed about their finances with 47% distracted by their money worries at work.

The Elva Financial Wellness Survey is designed to allow employers to focus on the financial issues that cause their employees the most stress in their lives. By adopting a financial wellness strategy they can start to build stronger relationships with staff and improve retention rates.

Patrick Leahy, Elva Co Founder said:

“With money worries taking up such a large part of all our lives, it’s no wonder that they can transfer into and impact the workplace. Our financial wellbeing survey has been designed to make the process easy for employers to gather the information from their workforce.  The survey is quick and easy to complete, and all responses are anonymous and cannot be traced back to any individual employee.

A report is produced summarising results, analysing your employees’ wellbeing, alongside market benchmarks and highlighting any concerns or areas that may need addressing. The report can be kept and be used to develop a financial wellbeing strategy, or even measure the impact of one that’s already in place.”

Elva has a suite of technology products that aim to promote financial wellbeing and inclusion. The range of features and products support employees whatever their circumstances. Through the use of AI and personal one-to-one care, a tailored, appropriate service is provided to each employee. This includes Counselling and guidance for those in severe economic stress through to IFA regulated services and everything in between. Elva will curate the vast and complex information surrounding financial wellbeing, providing the employees with the relevant education and products relevant to them.


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